Wealth Management

Wealth Management Articles

IRS Retirement Plan Contribution Limits

November 21st, 2018

To make it possible for voluntary retirement savings to keep up with inflation, the various numerical limits embedded within qualified retirement plans are indexed for inflation.


Charitable giving growing nicely

October 24th, 2018

The nonprofit sector did very well in 2017, according to the June 2018 report issued by Giving USA. Total gifts to charity exceeded $400 billion for the first time, reaching $410.02 billion. Gifts from individuals are the largest component, and were $14 billion ahead of the 2016 pace. All giving sectors grew, as shown in the table below:


The federal estate tax exemption doubled. Now what?

October 23rd, 2018

Put your beneficiaries first.The traditional “hot button” that has motivated people to see their lawyers about estate planning is taxation. Death taxes—inheritance taxes, estate taxes, federal taxes, state taxes—have taken a notorious toll on unplanned estates over the years. With sound planning, that burden can be lightened or even eliminated. In many cases, the tax savings easily cover the cost of the attorney’s fees for creating the estate plan.


Aretha Franklin’s estate plan

September 28th, 2018

Aretha Franklin, the “Queen of Soul,” died in August. Her life and musical legacy were remarkable.


Longevity

August 08th, 2018

According to the latest data from the National Vital Statistics Reports (August 2017, reporting on 2014 experience), a male age 65 should expect to live 18 more years (to age 83) and a female 20.6 years (to age 85.6). Half of 65-year-olds will die sooner, half later.


A new kind of long-term-care insurance

July 25th, 2018

More than 400,000 long-term-care insurance policies were sold in 1992, according to figures published by The Wall Street Journal. These are the policies that help seniors cover the costs of nursing home stays at the end of life. At least 400,000 additional policies were purchased each year in the subsequent ten years, peaking at about 750,000 in 2002. Then sales collapsed, and never again reached the 400,000 level. Last year, reportedly only 66,000 such policies were sold. The need for long-term-care insurance has never been greater. What happened to the market?


Planning for Single Seniors

May 15th, 2018

More and more seniors are finding themselves alone and without nearby relatives to help them with financial management. Persons in this situation will need to find an alternative—friends or professionals who can fulfill the roles that might otherwise be handled by family members.


Estate Plan Essentials

April 20th, 2018


IRA Assessment

February 21st, 2018


Bunching Charitable Gifts

January 21st, 2018

With the dramatic increase in the standard deduction in 2018, to $24,000 for married couples, many charities are worried that the tax incentive for donations will disappear, leading to lower gifts.